Fractal Protocol Raises $6M in Seed Funding Round Led by Hack VC

04/18/2023 00:05 • Metaverse & Beyond • 60 views

According to reports, DeFi infrastructure service provider Fractal Protocol has completed a seed round financing of $6 million, led by Hack VC, with participation from 6MV, Archetype, CMT Digital, Blizzard Fund, Circle, CoinShares, GoldenTree, QCP Capital, TheSpartan Group, and others.

DeFi infrastructure service provider Fractal Protocol completed $6 million seed round financing

The decentralized finance (DeFi) space has seen tremendous growth in recent years, with new players entering the market every day. Fractal Protocol, a DeFi infrastructure service provider, is among these players and has recently announced securing $6 million in seed funding round, led by Hack VC. The investment round saw participation from 6MV, Archetype, CMT Digital, Blizzard Fund, Circle, CoinShares, GoldenTree, QCP Capital, TheSpartan Group, and others.

What is Fractal Protocol?

Fractal Protocol is a decentralized system that provides a set of standardized tools and protocols for marketplaces to exchange data and value. Its primary goal is to enable trustless cooperation between different platforms, without the need for intermediary platforms, services or governance.

The Seed Funding Round

The $6 million raised in the seed funding round will be used by Fractal Protocol to scale its infrastructure services and attract new partners into its ecosystem. The company plans to achieve this by expanding its engineering, product, and operations teams, as well as driving adoption and integration of its services within marketplaces and platforms.

Hack VC and the Other Investors

Hack VC mainly invests in startups working on decentralized technologies for the Web 3.0 era. Its investment focus includes blockchain, digital assets, and decentralized finance. Hack VC led the seed funding round, and its management team has many years of experience in investing in disruptive technologies.
Other notable investors that participated in the funding round include the likes of Circle, which is one of the largest players in the digital assets space, and CoinShares, which is a digital asset investment firm. With such backing and expertise, Fractal Protocol will have access to mentorship and resources that will help it achieve its goals.

Benefits of Fractal Protocol

Fractal Protocol provides a set of advantages to marketplaces and platforms that choose to adopt its services. These advantages include:

Enhanced Privacy

Fractal Protocol’s infrastructure supports zero-knowledge (ZK) proofs that ensure the protection of sensitive data in transactions. These proofs allow for anonymity and privacy, which enhance the security of data exchanged between participants.

Seamless Interoperability

Marketplaces and platforms can seamlessly exchange value and data without the need for intermediaries or centralized points of control. Fractal Protocol’s infrastructure supports cross-chain exchange of tokens and data, making it easy for different platforms to collaborate.

Reducing Transactional Fees

Fractal Protocol’s system is designed to reduce transactional fees involved in exchanging value between different platforms. It achieves this by supporting off-chain execution with minimal gas fees.

Conclusion

Fractal Protocol’s recent seed funding round is an excellent sign of confidence in its infrastructure’s potential. With investments from top players in the digital assets and DeFi space, Fractal Protocol is in a good position to scale its infrastructure, attract new partners, and achieve its goal of providing standardized protocols for trustless cooperation between platforms.

FAQs

1. What services does Fractal Protocol provide?
Fractal Protocol provides a decentralized system that provides a set of standardized tools and protocols for marketplaces to exchange data and value.
2. Who led Fractal Protocol’s seed funding round?
Hack VC led Fractal Protocol’s seed funding round.
3. What are the benefits of Fractal Protocol?
Fractal Protocol’s benefits include enhanced privacy, seamless interoperability, and reducing transactional fees.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/metaverse/17888.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.